Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    4.78 Acres with River Access Title is generated by Realmo AI

    361 River Cove, Hayesville, NC 28904

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    4.78 acres with deeded Hiwassee River access in Hayesville.

    Type:Land
    Lot size:
    4.78 Acres
    Added:
    Nov 17, 2025
    Days on Market:
    195
    Last Refresh:
    May 27 at 8:21 am

    Property Features for 361 River Cove

    General Information

    Standard status
    Active
    Lot size
    4.78 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Gary Ward

    Listing agent Gary Ward License #205907

    Listing office Advantage Chatuge Realty

    Listing date Nov 17, 2025

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Advantage Chatuge Realty

    HighLights

    • Deeded access to the Hiwassee River for swimming, fishing, canoeing, kayaking, and other water sports.
    • 4.78 acres of land bordering a small branch, offering privacy and space.
    • Previously permitted for a 3‑bedroom septic system and private well (permit needs updating).
    • Easy access and underground utilities.
    • Close proximity to Western NC mountain attractions, including Nantahala National Forest, Fires Creek Wilderness area, and Valley River Casino.
    • Located in Clay County, known as the 'Best Kept Secret in the Carolinas'.

    Overview

    This 4.78-acre lot, identified as Lot 5, is located in Clay County, NC. The land borders a small branch and is currently wooded with mixed hardwoods. The property was previously permitted for a 3-bedroom septic system and private well, but these permits have expired and require updating. The lot offers privacy and easy access, along with deeded access to a common area on the Hiwassee River, suitable for swimming, fishing, canoeing, kayaking, and other water sports. Underground utilities are available. The property is located close to various amenities in the Western NC mountains and the Nantahala National Forest, including the Fires Creek Wilderness area and Black Bear Sanctuary. It is also near the Valley River Casino in Murphy, the John C. Campbell Folk Art School in Brasstown, shopping, restaurants, and medical facilities at Western Carolina Regional Hospital in Peachtree. The property is suitable for building a cabin or cottage.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hayesville
    County
    Clay
    State
    North Carolina
    Longitude
    -83.8517864
    Latitude
    35.0628964

    Nearby Similar for Sale

    • $540,000
      4,080 SF

      Hayesville Mixed-Use Investment Opportunity

      Two interconnected commercial buildings with residential and warehouse spaces.
      6 Sanderson Street, Hayesville, NC 28904
      View Details
    • $540,000
      5,880 SF

      Hayesville Mixed-Use Investment Opportunity

      Two interconnected commercial buildings with apartment and parking lot.
      6 Sanderson Street, Hayesville, NC 28904
      View Details
    • $1,799,000
      8,721 SF

      Lake Chatuge Unrestricted Income Property

      Income-producing 5.39-acre property overlooking Lake Chatuge with endless potential.
      40 Chatuge Lane, Hayesville, NC 28904
      View Details
    • $825,000
      1,500 SF

      Mountain Resort Investment Opportunity

      Turnkey mountain resort with multiple income streams near Hayesville, NC.
      3452 Old Hwy 64 E, Hayesville, NC 28904
      View Details
    • $850
      1,008 SF

      Hayesville Commercial Space For Lease

      Versatile commercial space in high-traffic location, ideal for various businesses.
      562 Tusquittee Street, Hayesville, NC 28904
      View Details
    • $1,750,000
      20,654 SF

      Hayesville Office Building on Highway

      20,654 SF office building on 1.492 acres.
      3280 NC-69, Hayesville, NC 28904
      View Details
    • $529,900
      2,234 SF

      Hayesville Commercial Property with Workshop

      Mixed-use property featuring a climate-controlled shop on nearly 3 acres.
      1654 Myers Chapel Road, HAYESVILLE, NC 28904
      View Details
    • $225,000

      Unrestricted Acreage with Utility Buildings

      6.675 acre lot with improvements, ready for development.
      167 Swaims Road, Hayesville, NC 28904
      View Details
    • $245,000

      Highway Frontage Vacant Lot

      2.67-acre lot with potential commercial and residential uses.
      Hwy 64, Hayesville, NC 28904
      View Details
    • $550,000

      Mountain Harbour Townhome Development Opportunity

      Vacant lots for townhome construction in Mountain Harbour community.
      Licklog Ridge, HAYESVILLE, NC 28904
      View Details
    • $29,900

      Hayesville Vacant Lot Opportunity

      1.24 acre lot with mountain and lake view potential.
      Lot 22b Longview Drive, Hayesville, NC 28904
      View Details
    • $450,000
      400 SF

      Hayesville Commercial Property on Highway

      Commercial property on a busy highway suitable for business office.
      3697 Hwy 64W, Hayesville, NC 28904
      View Details

    FAQs

    What type of property is this?
    Land - 4.78 acres with deeded Hiwassee River access in Hayesville.
    Where is this land located?
    The property is located at 361 River Cove Hayesville, NC.
    What is the asking price?
    The asking price for this property is $69,900.
    What are key features of this property?
    This property features: Deeded access to the Hiwassee River for swimming, fishing, canoeing, kayaking, and other water sports.; 4.78 acres of land bordering a small branch, offering privacy and space.; Previously permitted for a 3‑bedroom septic system and private well (permit needs updating).
    (828) 508-0803 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gary Ward
    Real Estate License ID: 205907
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    361 River Cove, Hayesville, NC 28904
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!